WeWork Got One Thing Right: Reimagining Work
In a previous blog, we wrote about two key failings of the fizzled WeWork IPO. In this article, we discuss what the company got right—attempting to rewrite the rules for work to better fit the needs and expectations of modern workers. Even with the right goal, however, WeWork ultimately fails to reach it. The only way to truly align work with human flourishing is to understand and apply a biblical framework.
Where WeWork Went Wrong and What We Can Learn From It
One of the most anticipated IPO’s of 2019 hit enormous roadblocks and it serves as a powerful case study for us. In private fundraising rounds, Adam Nuemann, WeWork’s CEO, enjoyed incredible favor with investors. That favor finally ran out as skeptical Wall Street investors found flaws in the company’s governance, valuation, business model, and expense structure. This pushback from investors caused WeWork’s parent company to withdraw its planned IPO.
Here’s what WeWork did NOT have, but you should if you hope to raise money from impact investors.